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World needs much higher carbon prices to meet 2C target, say renowned economists

Published 14:03 on May 29, 2017  /  Last updated at 14:10 on May 29, 2017  /  Africa, Americas, Asia Pacific, Canada, Carbon Taxes, China, EMEA, EU ETS, International, South Korea, US  /  No Comments

The world needs carbon prices of at least around $40-80/tonne in 2020 and $50-100 in 2030 to keep global temperatures from rising above 2 degrees C, according to a report led by two renowned economists and backed by the World Bank’s Carbon Pricing Leadership Coalition (CPLC).

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Assembly bills on California cap-and-trade future advance from Appropriations Committee

Published 21:30 on May 26, 2017  /  Last updated at 22:14 on May 26, 2017  /  Americas, Canada, US  /  No Comments

Both Assembly bills on the future of California’s cap-and-trade programme beyond 2020 have passed out of the Appropriations Committee, meaning that they will now progress to the chamber’s floor for further debate.

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Voluntary carbon market data from CTX for May 26, 2017

Published 16:30 on May 26, 2017  /  Last updated at 16:30 on May 26, 2017  /  Africa, Americas, Asia Pacific, Australia, EMEA, International, Mexico, Middle East, Other APAC, South & Central, US, Voluntary Market  /  No Comments

A table of Verified Emission Reduction (VER) prices and offered volumes, based on voluntary market data provided by CTX.

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Green Climate Fund invites private sector pitches for $500 mln in climate finance

Published 10:13 on May 25, 2017  /  Last updated at 13:59 on May 25, 2017  /  Africa, Americas, Asia Pacific, International, Other APAC  /  No Comments

The Green Climate Fund has launched a request for project proposals worldwide from private sector firms to cut carbon emissions or improve climate resilience in developing countries, offering a total $500 million in co-funding.

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Canada’s northern territories could be exempted from federal carbon tax plan

Published 23:02 on May 24, 2017  /  Last updated at 23:02 on May 24, 2017  /  Americas, Canada, Carbon Taxes  /  No Comments

Canada’s frozen northern territories are not included in the federal government’s carbon pricing backstop plan for provinces and will be treated separately, a senior official with the environment and climate change ministry has confirmed.

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California hands out record number of offsets in latest issuance

Published 21:09 on May 24, 2017  /  Last updated at 21:09 on May 24, 2017  /  Americas, Canada, US, Voluntary Market  /  No Comments

California has handed out more than 5 million offsets in its latest round of issuances, setting a new record and boosting existing supply by an estimated 13%.

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Latest WCI allowance auction sells out at premium to price floor

Published 20:07 on May 24, 2017  /  Last updated at 00:34 on May 25, 2017  /  Americas, Canada, US  /  No Comments

California and Quebec sold out all 75.3 million carbon allowances on offer in its latest current auction, at a settlement price well above the sale’s floor, restoring some confidence in the market after a spate of under-subscribed sales.

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IETA members expect UK exit from EU ETS, but spread of global emissions markets -survey

Published 11:46 on May 24, 2017  /  Last updated at 19:40 on May 24, 2017  /  Americas, Asia Pacific, Australia, Aviation, Canada, China, China's National ETS, EU ETS, International, Shipping, US  /  No Comments

Six out of 10 respondents in the International Emissions Trading Association’s market sentiment survey expect the UK to drop out of the EU ETS, but most are optimistic that new markets will emerge globally driven by China and the aviation sector.

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Lawyer up: More lawsuits being filed against governments for climate inaction

Published 22:39 on May 23, 2017  /  Last updated at 00:25 on May 25, 2017  /  Africa, Americas, Asia Pacific, Bavardage, Climate Talks, EMEA, International, New Zealand, Other APAC, US  /  No Comments

Lawsuits seeking to hold governments to account for their climate-related commitments are on the rise, with over 650 filed in the US alone – almost three times the number recorded in the rest of the world.

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SCE launches tender to buy low-risk California offsets

Published 21:50 on May 23, 2017  /  Last updated at 21:52 on May 23, 2017  /  Americas, Canada, US  /  No Comments

Utility Southern California Edison has launched a tender to buy California carbon offsets featuring no invalidation risk and deliverable before the final 2015-2017 compliance deadline.

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